By Beaven Dhliwayo.
Harare,Zimbabwe. (News of The South) – The City of Harare on Tuesday said it has reformed its Ease of Doing Business model and have put in place an investment policy buttressed by several incentives depending on the magnitude of the investment.
Harare is the central administration hub for the government of Zimbabwe – it is home to the Executive, Legislator and Judiciary.
It houses all diplomatic missions in the country, UN agencies, headquarters of banks and the Zimbabwe Stock Exchange.
Harare is led by an elected council which is headed by a non executive mayor.
Addressing delegates at an investor conference in the capital, Acting Town Clerk engineer Hosiah Chisango said City of Harare is in full support of the government mantra: “Zimbabwe is open for business” and as the city fathers they have added to say “Harare is ready for investment”.
“The city is committed to make sure that you enjoy the fruits of your investment in Harare and will thrive to make sure there is continuous engagement among stakeholders.
“We will initiate and activate various platforms for continuous dialogue with you, so that we keep on exchanging notes. We need to keep in touch with modern business trends and manage the flow of information amongst ourselves,” he said.
In his inaugural speech President Emerson Mnangagwa said, “Key choices will have to be made to attract foreign direct investment to tackle high levels of unemployment while transforming our economy towards the tertiary.”
Eng Chisango said there are various business models or options at your (investors) disposal that can be exploited.
“These include the Build Operate and Transfer model where once we agree on the development of infrastructure you will operate and recoup your finance for an agreed period of time before surrendering it to council.
“There is also the Build Own Operate and Transfer which is a financing arrangement in where an investor designs and builds a complete project or facility at little or no cost to council, owns and operates the facility as a business for an agreed period after which transfers it to council at a previously agreed-upon or market-price.
“Joint ventures are also available where we operate together sharing the costs and dividends at an agreed percentage.
“Concessions are also available where the council and investor negotiate a contract allowing the investor the right to operate a specific business within the council’s jurisdiction, subject to certain conditions.
“Lastly there is the Go It Alone model which allows the investor to run his/her business alone with council providing a facilitation role, for instance, selling suitable land for the business venture,” he said.
Speaking also at the event, Harare Mayor Councillor Bernard Manyenyeni said the objective of this Investment Policy is to mobilize private investment that supports steady economic growth and sustainable development in the City, contributing to the economic and social well-being of the people of Harare.
“Accordingly, City of Harare being the Capital needs to be the forefront of developing investment promotion strategies that ensure the easy of doing business to investors.
“Harare is more than ready to welcome local, regional and international investors in the various sectors of the economy. The stage for investment has been set and Harare has a number of compelling reasons for any investor seeking a safe and hospitable business environment.”
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